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Nov 28, 2012
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mitt romney proved during the campaign you cannot do it just by doctoring up the tax code. that should be part of the deal. we need to have tax reform, we have to have the people that have done so well during the difficult time with the economy, the richest of the rich will have to pay a little bit more to solve the idea of the problems of the country. -- to solve the financial problems of this country. >> good afternoon, everyone. as we head into the fiscal cliff negotiations, my advice to the president would be -- seems like our friends on the other side are having difficulty turning off the campaign. we need to sit down and work this matter out. i think we have a clear sense of the year to do something important for the country. we all know that the most critical steps to be taken are to save the entitlements, which are on an unsustainable path to bankruptcy. there's no better time to begin to fix that problem than right now. so i would hope our friends on the other side can kind of turn off the campaign and get into a cooperative mode here to reach a conclusion. which l
mitt romney proved during the campaign you cannot do it just by doctoring up the tax code. that should be part of the deal. we need to have tax reform, we have to have the people that have done so well during the difficult time with the economy, the richest of the rich will have to pay a little bit more to solve the idea of the problems of the country. -- to solve the financial problems of this country. >> good afternoon, everyone. as we head into the fiscal cliff negotiations, my advice...
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Dec 5, 2012
12/12
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everybody didn't get a chair, such as mitt romney. they want to retain power for the next five or six months. there is a unique opportunity to governor. second, there is that fiscal cliff. it does not appear that we will see something here. that will be positive and significant. there is a billion-dollar number that is key. the revenue side, that is the key number. how do you get to that number? >> $600 billion? >> wasn't that the number two summers ago in 2011? >> i do not think so. you need the white house? >> yeah. >> we have a minute left. anyone else? >> i do not think we need to argue about the cbo right now for all the reasons we talked about. the outcomes of these experiments are uncertain. cbo cannot buy in before it knows the evidence. i strongly support what he said about leadership. this is a moment for a huge opportunity. the president needs to lead and the leaders of congress need to sit down and work this thing out. it is not that hard. we need to do it. other countries do it. we can do it. there is no reason why we sho
everybody didn't get a chair, such as mitt romney. they want to retain power for the next five or six months. there is a unique opportunity to governor. second, there is that fiscal cliff. it does not appear that we will see something here. that will be positive and significant. there is a billion-dollar number that is key. the revenue side, that is the key number. how do you get to that number? >> $600 billion? >> wasn't that the number two summers ago in 2011? >> i do not...
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Dec 5, 2012
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mitt romney going to disappear or does he have a continuing role? >> i hope he doesn't disappear and hope he has a continuing role. first of all, very few people have done what he has done, run for president and be the nominee of the party. >> and get crushed. >> that's not accurate. he got 47%. he won a lot of states. he didn't lose 49-1. he won places and has a lot of supporters. but he has been successful at life. and i told him this, too. mitt romney is a role model as a person, a father, husband, community leader. he has a lot to offer the republican party and our country and i don't know what that role is going to be but i'm excited because he has a lot to continue to contribute. >> one of the issues you will be talking about in the coming year is immigration and the big encilada is a pathway to citizenship. can that get done in the next four years? >> i hope so. i think it needs to be dealt with comprehensively but not in a comprehensive package of bills. each of these issues has their own constituencies and deserve to be dealt with squarely
mitt romney going to disappear or does he have a continuing role? >> i hope he doesn't disappear and hope he has a continuing role. first of all, very few people have done what he has done, run for president and be the nominee of the party. >> and get crushed. >> that's not accurate. he got 47%. he won a lot of states. he didn't lose 49-1. he won places and has a lot of supporters. but he has been successful at life. and i told him this, too. mitt romney is a role model as a...
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Dec 6, 2012
12/12
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caller: i held my nose and voted for romney. if youonservative, but ask me if i believe in abortion, i do not think it is anyone's business but the woman and her god. i think republicans are run around too much by the religious right. i think where people could -- should become independence. -- independents. you have got to think common sense in this day and time. you're not -- you cannot keep holding on to your democrat or republican party. host: that is dana in oceanside, california. san antonio, texas, a democrat. caller: i was calling about the income tax. not just getting free money, having babies. host: our next call is anjou in marlborough, massachusetts. line 4 independents. -- in robert, massachusetts. line for independents. caller: it is an american problem, and all americans need to step up and help to fix it. for me, i'm willing to pay more taxes if you show me that you're doing the right thing. maybe somehow tie it to a balanced budget amendment. all we hear is talking about increasing taxes or reducing withholdings
caller: i held my nose and voted for romney. if youonservative, but ask me if i believe in abortion, i do not think it is anyone's business but the woman and her god. i think republicans are run around too much by the religious right. i think where people could -- should become independence. -- independents. you have got to think common sense in this day and time. you're not -- you cannot keep holding on to your democrat or republican party. host: that is dana in oceanside, california. san...
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Nov 30, 2012
11/12
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even mitt romney denied that one as the campaign went on. if republicans insist on spending cuts the on news is on them to come forward with some ideas t. president's budget continues over $300 billion in health savings. if they don't like that they should make a counter offer. we know that won't happen. we are waiting for some specific somewhere from our republican colleagues to show that they are serious on negotiations. >> three weeks ago the american people went to the polling places and they sent a message. democrats from president obama to our senate candidates on down built their campaigns around the idea that budgets have to work for our middle class and that the wealthy need to pay their fair share. republicans were clear too their to protect the wealthny and it was rejected. the american people voted for the candidates who committed to fighting for the middle class and in exit polls they agree that the wealthy have to participate and pay their fair share. here we are at the end of the year and it's encouraging to hear some of the r
even mitt romney denied that one as the campaign went on. if republicans insist on spending cuts the on news is on them to come forward with some ideas t. president's budget continues over $300 billion in health savings. if they don't like that they should make a counter offer. we know that won't happen. we are waiting for some specific somewhere from our republican colleagues to show that they are serious on negotiations. >> three weeks ago the american people went to the polling places...
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Dec 7, 2012
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romney's comments that 47% of the population did not pay income tax, and then it was pointed out that many of these people are retirees, some of them are soldiers fighting overseas. it is true that some people who did not make a lot of money do not owe income tax, in part because they get tax credits like the earned income tax credit, which outweighs the tax liability they have. even the poor, they pay a percentage of their income and payroll taxes. if you only look at income taxes, under a lot of people who do not pay income taxes, but almost everybody pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the
romney's comments that 47% of the population did not pay income tax, and then it was pointed out that many of these people are retirees, some of them are soldiers fighting overseas. it is true that some people who did not make a lot of money do not owe income tax, in part because they get tax credits like the earned income tax credit, which outweighs the tax liability they have. even the poor, they pay a percentage of their income and payroll taxes. if you only look at income taxes, under a lot...
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Dec 5, 2012
12/12
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even in this presidential campaign, the president was attacked by mitt romney for it. what mitt romney forgot to mention is none of those cuts in spending in medicare cut benefits. when we did the reductions in medicare spending, we made sure none of those could come at the expense of american seniors who are receiving medicare. the reason you can do that is because there are enough savings to be have. -- had. you go after some of the fraud and waste and you get a ton of savings. that is what we did. in a district, there are a lot of efficiencies to learn from. we are willing to discuss reduce spending on important programs. what we are not willing to discuss is, in the first instance, how you pay for deficits that were caused by things other than these programs. we did not pay for these two wars in iraq and afghanistan. we did not pay for the bush tax cuts that went heavily for the very wealthy. why seniors should take cuts to their services and benefits they paid for in medicare or social security so we can draw down deficit and debt that was caused, that is where it
even in this presidential campaign, the president was attacked by mitt romney for it. what mitt romney forgot to mention is none of those cuts in spending in medicare cut benefits. when we did the reductions in medicare spending, we made sure none of those could come at the expense of american seniors who are receiving medicare. the reason you can do that is because there are enough savings to be have. -- had. you go after some of the fraud and waste and you get a ton of savings. that is what...
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Nov 28, 2012
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he ran a romney is a bad person campaign not look at how wonderful i have gotten the american economy. >> if it is on c-span -- >> you say here's what we want to do. we just elected a house which ran on the ryan plan. >> you are saying these are the reforms that we want. >> the president sits there and says what, because he hasn't put anything on the table that passes the lap test, hasn't put spending restraint. crazy democratic leadership, which for two years kept all the democratic senators from voting on anything. i want them to vote on something between now and 2014 because then they aren't coming back. >> if you are john boehner, speaker boehner, your proposal is -- your bright line is what? >> first of all, you want to have this conversation in public and whatever happens, you want it online. that gives you the moral high ground and allows the american people to focus on this. >> wait, what you are saying right there is a path to a deal, you're not saying they should go over a political cliff. you're saying they should fight for the best deal they can get, but you're not advocat
he ran a romney is a bad person campaign not look at how wonderful i have gotten the american economy. >> if it is on c-span -- >> you say here's what we want to do. we just elected a house which ran on the ryan plan. >> you are saying these are the reforms that we want. >> the president sits there and says what, because he hasn't put anything on the table that passes the lap test, hasn't put spending restraint. crazy democratic leadership, which for two years kept all...
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Dec 4, 2012
12/12
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romney and mr. ryan campaigned against the president on, paul ryan's budget included the same reductions and it's likely they will be in his budget that's coming forward. let's act on things that we agree. let's rebuild and renew america and find ways to save the money and puts on a path to fiscal responsibility that the american public needs and demands. the speaker pro tempore: the chair recognizes the gentleman from oklahoma, mr. lankford, for five minutes. mr. lankford: in a few days we're going to have to resolve the fiscal cliff. eye roncally enough, something the house of representatives passed last may. in april set out a tax plan. in may passed a sequestration plan, went to the senate and said we're going to see you in the lame duck time period. we're in the lame duck and this had has to be solved. we have to solve the problem. the first thing is to define what the problem even is. it seems one group is talking about the real problems, the fiscal cliff, and the other group is talking about
romney and mr. ryan campaigned against the president on, paul ryan's budget included the same reductions and it's likely they will be in his budget that's coming forward. let's act on things that we agree. let's rebuild and renew america and find ways to save the money and puts on a path to fiscal responsibility that the american public needs and demands. the speaker pro tempore: the chair recognizes the gentleman from oklahoma, mr. lankford, for five minutes. mr. lankford: in a few days we're...
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Dec 4, 2012
12/12
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romney forgot to mention is none of those cuts in spending in medicare cut benefits. when we did that we made sure that none of the reductions would come at the expense of american seniors who were receiving medicare. and the reason you could do that because there's enough savings to be had. you could get rid of some of the medicare mills, the replication of services and you get a ton of savings. that's what we did. as mr. waleds said, in his district -- walz said, in his district we have a lot of things we can learn from. we're willing to discuss on how to reduce spending on medicare, medicaid and so forth. what we're not willing to discuss in the first instance how you pay for deficits that were caused by things other than these programs. we didn't pay for these two wars in iraq and afghanistan. we didn't pay for the bush tax cuts that went heavily towards the very wealthy. and so why all of a sudden seniors in america should take cuts to their services and benefits they paid for in america and social security so we can drawdown deficits and debt that was caused by
romney forgot to mention is none of those cuts in spending in medicare cut benefits. when we did that we made sure that none of the reductions would come at the expense of american seniors who were receiving medicare. and the reason you could do that because there's enough savings to be had. you could get rid of some of the medicare mills, the replication of services and you get a ton of savings. that's what we did. as mr. waleds said, in his district -- walz said, in his district we have a lot...
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Dec 4, 2012
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mitt romney gave away millions and millions of dollars. host: things like capital gains dividends and other things that benefit wealthier in comes? guest: the caplet gains and dividends is the classic break that benefits the wealthy. they think it is correct if they receive more than 90% of the benefit. people and the middle class get a little benefit from that break. the majority of the break goes to the wealthy. host: there is a recent story from politico. host: how significant of these deductions? guest: they can be important. the goal is to not get rid of the budget deficit. lots of people do not want to get rid of the budget deficit. they want to get it down to a manageable level. opinions differ. you can make a big dent through closing or reducing the loopholes. host: do you expect them to play a role? could they end up on the chopping block? guest: republicans have put them on the table. i think you probably will see some of both. this is a process that will go on for the better part of the next year. during that process, you will s
mitt romney gave away millions and millions of dollars. host: things like capital gains dividends and other things that benefit wealthier in comes? guest: the caplet gains and dividends is the classic break that benefits the wealthy. they think it is correct if they receive more than 90% of the benefit. people and the middle class get a little benefit from that break. the majority of the break goes to the wealthy. host: there is a recent story from politico. host: how significant of these...
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Dec 1, 2012
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this is an idea mitt romney had on the campaign, this idea that you cap the value at $30,000, say. if you live in an area with low housing prices, that probably would not affect you. if you live at new york, san francisco where your mortgage is more expensive, it would be easier to bump up against what the deduction cap would be. you might not be itemizing your tax returns at the end of every year. host: next call is mike on the democrat's line. are you there? caller: i have a question for you. i heard president obama is making cuts to medicare if his plan goes through. he wants to cut $400 billion in entitlements. i collect ssdi. i am disabled. these $40 billion cuts in entitlements, are they going to affect ssi, ssdi? guest: we do not know what the administration is talking about yet. that offer came from the administration on the hill yesterday. it was not specific. $400 billion is what we are looking at in entitlement savings and we're not sure if it is ssdi or how beneficiaries would be affected. host: children make up a lot of these credits. which of these are affected by the
this is an idea mitt romney had on the campaign, this idea that you cap the value at $30,000, say. if you live in an area with low housing prices, that probably would not affect you. if you live at new york, san francisco where your mortgage is more expensive, it would be easier to bump up against what the deduction cap would be. you might not be itemizing your tax returns at the end of every year. host: next call is mike on the democrat's line. are you there? caller: i have a question for you....
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Dec 6, 2012
12/12
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that came up with mitt romney. his effective tax rate was so low. he was paying the capital gains tax instead of income tax so was effective tax rate was 13% or 14%. the stepped-up basis is an important point as well. you pay taxes on capital gains tax, it is based on the value of the estate when you inherited it. host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the ra
that came up with mitt romney. his effective tax rate was so low. he was paying the capital gains tax instead of income tax so was effective tax rate was 13% or 14%. the stepped-up basis is an important point as well. you pay taxes on capital gains tax, it is based on the value of the estate when you inherited it. host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james....